This is one thing I would think you would want to set clear expectations around well before purchasing so that you don't have to give up profits or vice versa feel like the bad guy down the road for telling relatives they can't use your beach house.All in all though I am in agreeance with others try to find anyway possible to make this happen as I have strong feeling you will never regret it.

We're due for a shift in that trend, in which case, if you get stuck with a property that doesn't cash flow you're going to 1: not make any sort of appreciation profit for a long time bc you bought at a peak2: enjoy negative cash flow while you're not making your appreciation money, or possibly losing more money to depreciation.

Anyways, I am in the process of selling my grandparents home; and will split the profits with my uncle, which should leave me with roughly $130k (completely grateful for this) that I am looking to invest with (and would complete love to get out of this renting situation, and into our first home with!).

Boot is taxed as profit first, so if you have 50k in profit, but take out 30k in mortgage boot, you will be taxed as if you had 30k in profit. 

It must work for him as he's able to rent them for me at market rate and then turn around and make his profit. 

He know owns 12 single familys and a profitable business.

Luckily the market has not shifted to cause a hit on the profit projections.

I want to lease option it to someone else who will end up buying the property. property is not livable as it sits. and I plan on renting it out for a bit my credit sucks and my family doesn't  have that type of money and here are my numbersarv~50k+avg rent $850rehab is 20k insurance- 1500/yeartaxes 560/yeargross profit (not including taxes)-$348/month (when taxes are due its $68/month in profit for that month which I'm fine with)sellers numbersloan balance is 22kpaying him $377/month includes 5% interest

A T12 or profit and loss over the past 12 months and latest rent roll.

@Shawn Ackerman i wanted to hold it long term, or sell it for profit or both like a sandwich lease ?